American digital infrastructure firm DigitalBridge has concluded the deal to purchase AMP Capital’s global infrastructure equity investment management operations for $316m.
The deal, which was announced in April last year, has been carried out through subsidiaries owned by DigitalBridge’s operating company, DigitalBridge Operating Company.
Value of the deal includes a mix of $141m in cash for the investment management platform, $127m for assuming previously funded sponsor investments.
It also includes $48m for rights to embedded carried interest in two global infrastructure fund (GIF) platforms.
All these figures are subject to post-closing adjustments.
Furthermore, the newly bought business has been rebranded as InfraBridge, which includes four investment funds with $5.6bn in fee-earning assets under management and two GIFs.
InfraBridge will function as a new and independent arm under DigitalBridge’s investment management platform.
AMP Capital’s former global co-head of value-added infrastructure equity Damian Stanley will become a managing partner at InfraBridge, while Bernardo Vargas Gibsone from DigitalBridge’s leadership team has been named to serve as non-executive chair of InfraBridge.
DigitalBridge CEO Marc Ganzi said: “We are pleased to welcome to DigitalBridge an experienced, high-caliber investment team that shares our focus on generating attractive, long-term, risk-adjusted returns for our investors.
“InfraBridge complements our ‘full-stack’ investment platform, positioning DigitalBridge to capitalise on high-return mid-market investment opportunities. “Further, the acquisition immediately contributes significant earnings and further advances DigitalBridge’s strategic roadmap towards an asset-light, high-growth asset manager serving secular growth markets.”
